|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | **UNITED STATES**

**SECURITIES AND  EXCHANGE COMMISSION**

Washington, D.C. 20549

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|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                                                                           | **FORM 10-Q**

                                                              |   |   |
| (Mark  One)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                           |                                                                              |   |   |
| x  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE  ACT OF 1934

For the quarterly  period ended September 30, 2008

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                                                                           | OR

                                                                         |   |   |
| o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES  EXCHANGE

ACT  OF 1934 For the transition period from __________ to ___________

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                                                                           | **Commission File Number**333.151148

                                       |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                                                                           | **HAMPTONS EXTREME, INC.**

(Name of small  business issuer in its charter)       |   |   |
| **Delaware**

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                                                                           | 20-8731646

                                                                 |
| (State  or Other Jurisdiction of

Incorporation  or Organization)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | (I.R.S. Employer  Identification No.)                                                          |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 509 S. San Clemente Street
Ventura, California 93001
(Address of Principal  Executive Offices) |                                                                              |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                                                                           |  

(805) 754-9805

(Issuer's Telephone  Number, Including Area Code)

  |   |   |
|  

Check whether the issuer (1) filed all reports  required to be filed by Section 13 or 15(d) of the Exchange Act during the  past 12 months (or for such shorter period that the registrant was required  to file such reports), and (2) has been subject to such filing requirements  for the past 90 days. YES x NO o

 

Indicate  by check mark whether the registrant is a large accelerated filer, an  accelerated filer, a non-accelerated filer or a smaller reporting company  filer.  See definition of “accelerated filer” and “large  accelerated filer” in Rule 12b-2 of the Exchange Act (Check one):

 

Large Accelerated Filer oAccelerated Filer	o Non-Accelerated Filero  Smaller Reporting Companyx

 

Indicate  by check mark whether the registrant is a shell company (as defined in Rule  12b-2 of the Exchange Act). YES x NO o

  |
| State  the number of shares outstanding of each of the issuer’s classes of common  equity, as of the latest practicable date: 1,035,000 shares of common stock,  par value $.0001 per share, as of December 19, 2008.

 

Transitional Small Business Disclosure Format (Check one).	YES o NO x

 

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                                                                           |                                                                              |   |   |   |   |   |   |

----

 

**HAMPTONS EXTREME,INC.**

** **

**(A DEVELOPMENTSTAGE COMPANY)**

** **

**September 30, 2008 and 2007**

 

**INDEXTO FINANCIAL STATEMENTS**

** **

| Contents                                                                                              | Page(s) |
|-------------------------------------------------------------------------------------------------------|---------|
|                                                                                                  |    |
| Balance  Sheet at September 30, 2008 (Unaudited) and December 31, 2007                                | F-2     |
|                                                                                                  |    |
| Statement  of Operations for the Three Months Ended September 30, 2008 and 2007                       |    |
|  and  the Period from March 19, 2007 (Inception) through September 30, 2008  (Unaudited)         | F-3     |
|                                                                                                  |    |
| Statement  of Operations for the Nine Months Ended September 30, 2008, the Period                     |    |
|  from  March 19, 2007 (Inception) through September 30, 2007 and the Period from  March 19, 2007 |    |
|  (Inception)  through September 30, 2008 (Unaudited)                                             | F-4     |
|                                                                                                  |    |
| Statement  of Stockholders’ Deficit for the Period from March 19, 2007 (Inception)  through      |    |
|  September  30, 2008 (Unaudited)                                                                 | F-5     |
|                                                                                                  |    |
| Statement  of Cash Flows for the Nine Months Ended September 30, 2008, the Period                     |    |
|  from  March 19, 2007 (Inception) through September 30, 2007 and the Period from  March 19, 2007 |    |
|  (Inception)  through September 30, 2008 (Unaudited)                                             | F-6     |
|                                                                                                  |    |
| Notes  to the Financial Statements (Unaudited)                                                        | F-7     |
|                                                                                                  |    |

 

 

 

 

 

 

 

 

 

 

 

 

 

 

F-1

----

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

**HAMPTONSEXTREME, INC.**

(A Development StageCompany)

 

Balance Sheets

 

 

|                                                                                                                                 |      | September 30, 2008  |   |      | December 31, 2007   |
|--------------------------------------------------------------------------------------------------------------------------------------|-----------|---------------------|--------|-----------|---------------------|
|                                                                                                                                 |      | (Unaudited)         |   |      |                |
|                                                                                                                                 |      |                |   |      |                |
| Current Assets:                                                                                                                      |      |                |   |      |                |
| Cash                                                                                                                                 | $         | 1,669               |   | $         | 10,479              |
| Total current assets                                                                                                                 |      | 1,669               |   |      | 10,479              |
|                                                                                                                                 |      |                |   |      |                |
| TOTAL ASSETS                                                                                                                         | $         | 1,669               |   | $         | 10,479              |
|                                                                                                                                 |      |                |   |      |                |
|                                                                                                                                 |      |                |   |      |                |
|                                                                                                                                 |      |                |   |      |                |
| Current Liabilities                                                                                                                  |      |                |   |      |                |
| Accrued expenses                                                                                                                     | $         | 13,206              |   | $         | 13,706              |
| Total current liabilities                                                                                                            |      | 13,206              |   |      | 13,706              |
|                                                                                                                                 |      |                |   |      |                |
| Stockholders' Deficit:                                                                                                               |      |                |   |      |                |
| Preferred stock:  $0.0001 par value; 1,000,000 shares authorized; none issued or outstanding                                         |      |  

-           |   |      |  

-           |
| Common stock:  $0.0001 par value; 20,000,000 shares authorized; 1,035,000 and 1,024,000  shares issued and outstanding, respectively |      |  

 

104 |   |      |  

 

102 |
| Additional paid-in capital                                                                                                           |      | 34,996              |   |      | 23,998              |
| Deficit accumulated during development stage                                                                                         |      | (46,637)            |   |      | (27,327)            |
| Total stockholders’ deficit                                                                                                     |      | (11,537)            |   |      | (3,227)             |
|                                                                                                                                 |      |                |   |      |                |
| TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT                                                                                     |  

$ |  

1,669       |   |  

$ |  

10,479      |
|                                                                                                                                 |      |                |   |      |                |
| See accompanying  notes to the financial statements.                                                                                 |

F-2

----

 

 

**HAMPTONS EXTREME,INC.**

 (A Development StageCompany)

Statement ofOperations

 (Unaudited)

 

 

|                                                                           |      |  

 

 

Three Months

Ended

September 30, 2008 |      |  

 

 

Three Months

Ended

September 30, 2007 |      | The 

Period from

March 19, 2007

(Inception)

through

September 30, 2008 |
|--------------------------------------------------------------------------------|-----------|-----------------------------------------------------------------|-----------|-----------------------------------------------------------------|-----------|-----------------------------------------------------------------------------|
| Operating Expenses:                                                            |      |                                                            |      |                                                            |      |                                                                        |
| Professional fees                                                              | $         | 1,500                                                           | $         | 6,500                                                           | $         | 30,500                                                                      |
| General and administrative expenses                                            |      |  

2,203                                                   |      |  

-                                                       |      |  

16,137                                                              |
| Total operating expenses                                                       |      | 3,703                                                           |      | 6,500                                                           |      | 46,637                                                                      |
|                                                                           |      |                                                            |      |                                                            |      |                                                                        |
| Loss before income taxes                                                       |      | (3,703)                                                         |      | (6,500)                                                         |      | (46,637)                                                                    |
|                                                                           |      |                                                            |      |                                                            |      |                                                                        |
| Provision for income taxes                                                     |      | -                                                               |      | -                                                               |      | -                                                                           |
|                                                                           |      |                                                            |      |                                                            |      |                                                                        |
| Net loss                                                                       | $         | (3,703)                                                         | $         | (6,500)                                                         | $         | (46,637)                                                                    |
|                                                                           |      |                                                            |      |                                                            |      |                                                                        |
| Net loss per  common share - basic and diluted                                 |  

$ |  

(0.00)                                                  |  

$ |  

(0.00)                                                  |  

$ |  

(0.05)                                                              |
|                                                                           |      |                                                            |      |                                                            |      |                                                                        |
| Weighted  average number of common shares outstanding – basic and diluted |      |  

 

1,035,000                                       |      |  

 

	1,000,310                                      |      |  

 

1,015,073                                                   |
|                                                                           |      |                                                            |      |                                                            |      |                                                                        |
| See accompanying  notes to the financial statements.                           |

 

 

F-3

----

 

**HAMPTONS EXTREME,INC.**

 (A Development StageCompany)

Statement ofOperations

 (Unaudited)

 

 

|                                                                           |      |  

 

 

Nine Months

Ended

September 30, 2008 |      | The 

Period from

March 19, 2007

(Inception)

through

September 30, 2007 |      | The 

Period from

March 19, 2007

(Inception)

through

September 30, 2008 |
|--------------------------------------------------------------------------------|-----------|----------------------------------------------------------------|-----------|-----------------------------------------------------------------------------|-----------|-----------------------------------------------------------------------------|
| Operating Expenses:                                                            |      |                                                           |      |                                                                        |      |                                                                        |
| Professional fees                                                              | $         | 10,500                                                         | $         | 6,500                                                                       | $         | 30,500                                                                      |
| General and administrative expenses                                            |      |  

8,810                                                  |      |  

16                                                                  |      |  

16,137                                                              |
| Total operating expenses                                                       |      | 19,310                                                         |      | 6,516                                                                       |      | 46,637                                                                      |
|                                                                           |      |                                                           |      |                                                                        |      |                                                                        |
| Loss before income taxes                                                       |      | (19,310)                                                       |      | (6,516)                                                                     |      | (46,637)                                                                    |
|                                                                           |      |                                                           |      |                                                                        |      |                                                                        |
| Provision for income taxes                                                     |      | -                                                              |      | -                                                                           |      | -                                                                           |
|                                                                           |      |                                                           |      |                                                                        |      |                                                                        |
| Net loss                                                                       | $         | (19,310)                                                       | $         | (6,516)                                                                     | $         | (46,637)                                                                    |
|                                                                           |      |                                                           |      |                                                                        |      |                                                                        |
| Net loss per  common share - basic and diluted                                 |  

$ |  

(0.02)                                                 |  

$ |  

(0.01)                                                              |  

$ |  

(0.05)                                                              |
|                                                                           |      |                                                           |      |                                                                        |      |                                                                        |
| Weighted  average number of common shares outstanding – basic and diluted |      |  

 

1,033,544                                      |      |  

 

1,000,000                                                   |      |  

 

1,015,073                                                   |
|                                                                           |      |                                                           |      |                                                                        |      |                                                                        |
| See accompanying  notes to the financial statements.                           |

 

** **

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** **

** **

** **F-4

** **

----

** **

** **

** **

** **

** **

** **

** **

** **

** **

** **

**HAMPTONS EXTREME,INC.**

 (A Development StageCompany)

Statement ofStockholders’ Deficit

For the Period fromMarch 19, 2007 (Inception) through September 30, 2008 

(Unaudited)

 

|                                                                                       |  

 

 

Common

Shares |  

 

 

 

Amount                                                                       |  

 

Additional Paid-in  Capital                                                                                              | Deficit

Accumulated

during the

Development

Stage                                                            |  

 

 

 

Total                                   |
|--------------------------------------------------------------------------------------------|----------------------------------------|--------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------|
|                                                                                       |                                   |                                                                                                         |                                                                                                                                     |                                                                                                            |                                                                    |
|                                                                                       |                                   |                                                                                                         |                                                                                                                                     |                                                                                                            |                                                                    |
| Balance,  March 19, 2007 (inception)                                                       | 1,000,000                              |   $         100         | $                  -       | $                   - | $         100    |
|                                                                                       |                                   |                                                                                                         |                                                                                                                                     |                                                                                                            |                                                                    |
| Sale of  common stock from September 10, 2007 through December 7, 2007 at $1.00 per  share |  

 

 

24,000         |  

 

 

2                                                                                    |  

 

 

23,998                                                                                                           |                                                                                                            |  

 

 

24,000                                          |
|                                                                                       |                                   |                                                                                                         |                                                                                                                                     |                                                                                                            |                                                                    |
| Net loss                                                                                   |                                   |                                                                                                         |                                                                                                                                     | (27,327)                                                                                                        | (27,327)                                                                |
|                                                                                       |                                   |                                                                                                         |                                                                                                                                     |                                                                                                            |                                                                    |
| Balance,  December 31, 2007                                                                | 1,024,000                              |          102                 |        23,998                                                                |           (27,327)                   |    (3,227)                                          |
|                                                                                       |                                   |                                                                                                         |                                                                                                                                     |                                                                                                            |                                                                    |
| Sale of  common stock from January 4, 2008 through March 27, 2008 at $1.00 per share       |  

 

11,000                 |  

 

2                                                                                            |  

 

10,998                                                                                                                   |                                                                                                            |  

 

11,000                                                  |
|                                                                                       |                                   |                                                                                                         |                                                                                                                                     |                                                                                                            |                                                                    |
| Net loss                                                                                   |                                   |                                                                                                         |                                                                                                                                     | (19,310)                                                                                                        | (19,310)                                                                |
|                                                                                       |                                   |                                                                                                         |                                                                                                                                     |                                                                                                            |                                                                    |
| Balance,  June 30, 2008                                                                    | 1,035,000                              | $         104                | $       34,996                                                               | $      (46,637)                                          | $   (11,537)                                        |
|                                                                                       |                                   |                                                                                                         |                                                                                                                                     |                                                                                                            |                                                                    |

 

 

Seeaccompanying notes to the financial statements.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

F-5

----

 

 

 

 

 

 

 

 

 

**HAMPTONS EXTREME,INC.**

 (A Development StageCompany)

Statement of CashFlows

 (Unaudited)

 

 

|                                                                         |   |  

 

 

Nine Months

Ended

September 30, 2008 |   | The 

Period from

March 19, 2007

(Inception)

through

September 30, 2007 |   | The 

Period from

March 19, 2007

(Inception)

through

September 30, 2008 |
|------------------------------------------------------------------------------|--------|----------------------------------------------------------------|--------|-----------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------|
| CASH FLOWS FROM  OPERATING ACTIVITIES:                                       |   |                                                           |   |                                                                        |   |                                                                        |
| Net loss                                                                     | $      | (19,310)                                                       | $      | (6,516)                                                                     | $      | (46,637)                                                                    |
| Adjustments to  reconcile net loss to net cash used in operating activities: |   |                                                           |   |                                                                        |   |                                                                        |
|                                                                         |   |                                                           |   |                                                                        |   |                                                                        |
| Changes in operating  assets and liabilities:                                |   |                                                           |   |                                                                        |   |                                                                        |
| Increase  (decrease) in accrued expenses                                     |   | (500)                                                          |   | 6,500                                                                       |   | 13,206                                                                      |
| Net Cash Used  in Operating Activities                                       |   | (19,810)                                                       |   | (16)                                                                        |   | (33,431)                                                                    |
|                                                                         |   |                                                           |   |                                                                        |   |                                                                        |
| CASH FLOWS FROM  FINANCING ACTIVITIES                                        |   |                                                           |   |                                                                        |   |                                                                        |
| Sale of common  stock                                                        |   | 11,000                                                         |   | 100                                                                         |   | 35,100                                                                      |
| Net Cash  Provided by Financing Activities                                   |   |  

11,000                                                 |   |  

100                                                                 |   |  

35,100                                                              |
|                                                                         |   |                                                           |   |                                                                        |   |                                                                        |
| NET INCREASE  (DECREASE) IN CASH                                             |   |  

(8,810)                                                |   |  

84                                                                  |   |  

1,669                                                               |
|                                                                         |   |                                                           |   |                                                                        |   |                                                                        |
| CASH AT  BEGINNING OF PERIOD                                                 |   | 10,479                                                         |   | -                                                                           |   | -                                                                           |
| CASH AT END OF  PERIOD                                                       | $      | 1,669                                                          | $      | 84                                                                          | $      | 1,669                                                                       |
|                                                                         |   |                                                           |   |                                                                        |   |                                                                        |
| SUPPLEMENTAL  SCHEDULE OF CASH FLOW ACTIVITIES                               |   |                                                           |   |                                                                        |   |                                                                        |
| Cash Paid For:                                                               |   |                                                           |   |                                                                        |   |                                                                        |
| Interest                                                                     | $      | -                                                              |   | -                                                                           | $      | -                                                                           |
| Income taxes                                                                 | $      | -                                                              |   | -                                                                           | $      | -                                                                           |

See accompanyingnotes to the financial statements.

 

 

 

 

 

 

 

 

F-6

----

 

 

 

**HAMPTONS EXTREME,INC.**

 (A Development StageCompany)

Notes to theFinancial Statements

September 30, 2008and 2007

(Unaudited)

 

**NOTE1 - ORGANIZATION AND OPERATIONS**

 

Hamptons Extreme, Inc. (a developmentstage company) (“Hamptons” or the “Company”) was incorporated on March 19, 2007under the laws of the State of Delaware. Asubstantial portion of Hamptons’ activities has involved developing a businessplan and establishing contacts and visibility in the marketplace and theCompany has not generated any revenue to date. Hamptons plans to producea new vacuum composite molded surfboard, which is less toxic, more durable, andoffers a greater level of performance than other boards.

 

**NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

 

*Basisof presentation*

 

The accompanying interim financial statements for the threeand nine-month periods ended September 30, 2008, the three months endedSeptember 30, 2007, the period from March 19, 2007 (inception) throughSeptember 30, 2007 and the period from March 19, 2007 (inception) throughSeptember 30, 2008 and the related notes have beenprepared in accordance with accounting principles generally accepted in theUnited States of America (“U.S. GAAP”) for interim financial information andwith the rules and regulations of the United States Securities and ExchangeCommission (“SEC”) to Form 10-Q and Article 10 of Regulation S-X.  Accordingly,they do not include all of the information and footnotes required by the U.S.GAAP for complete financial statements.  The unaudited interim financialstatements furnished reflect all adjustments (consisting of normal recurringaccruals) which are, in the opinion of management, necessary to a fairstatement of the results for the interim periods presented.  The resultsof operations realized during an interim period are not necessarily indicativeof results to be expected for a full year. These financial statements should beread in conjunction with the information filed as part of the Company’sRegistration Statement on Form S-1, which was declared effective on October 14,2008.

 

The preparation of financial statements in conformity withaccounting principles generally accepted in the United States of Americarequires management to make estimates and assumptions that affect the reportedamounts of assets and liabilities and disclosure of contingent assets andliabilities at the date of the financial statements as well as the reportedamount of revenues and expenses during the reporting period. Actual resultscould differ from these estimates.

 

*Development stage company*

 

The Company is a development stage company as defined byStatement of Financial Accounting Standards No. 7*“Accounting and Reportingby Development Stage Enterprises”*(“SFAS No. 7”). The Company is stilldevoting substantially all of its efforts on establishing the business and itsplanned principal operations have not commenced. All losses accumulated sinceinception have been considered as part of the Company's development stageactivities.

 

*Useof estimates*

 

The preparation of financial statements in conformity withgenerally accepted accounting principles requires management to make estimatesand assumptions that affect the reported amounts of assets and liabilities anddisclosure of contingent assets and liabilities at the date of the financialstatements and the reported amounts of revenues and expenses during thereporting period.  Actual results could differ from those estimates.

 

Due to the limited level ofoperations, the Company has not had to make material assumptions or estimatesother than the assumption that the Company is a going concern.

 

*Cash equivalents*

 

The Company considers all highlyliquid investments with a maturity of three months or less when purchased to becash equivalents.

 

F-7

----

 

*Fairvalue of financial instruments*

 

The fair value of a financialinstrument is the amount at which the instrument could be exchanged in acurrent transaction between willing parties.  The carrying amounts offinancial assets and liabilities, such as cashand accruedexpenses, approximate their fair values becauseof the short maturity of these instruments.

 

*Revenue recognition*

 

The Company follows the guidance ofthe Securities and Exchange Commission’s Staff Accounting Bulletin (“SAB”) No.101 *“Revenue Recognition”* (“SAB No. 101”), as amended by SAB No. 104 (“SABNo. 104”) for revenue recognition. The Company records revenue when persuasiveevidence of an arrangement exists, product delivery has occurred and the title and risk of loss transfer to the buyer,the sales price to the customer is fixed or determinable, and collectability isreasonably assured. 

 

The Company will derive its revenue from sales contracts withcustomers with revenues being generated upon the shipment of goods. Persuasiveevidence of an arrangement is demonstrated via invoice, product delivery isevidenced by warehouse shipping log as well as a signed bill of lading from thetrucking or rail company and title transfers uponshipment, based on either free on board (“FOB”) factory or destination terms;the sales price to the customer is fixed upon acceptance of the purchase orderand there is no separate sales rebate, discount, or volume incentive.

 

*Incometaxes*

 

The Company accounts for income taxes under Statement ofFinancial Accounting Standards No. 109 *“Accounting for Income Taxes”*(“SFAS No. 109”). Deferred income tax assets and liabilities are determinedbased upon differences between the financial reporting and tax bases of assetsand liabilities and are measured using the enacted tax rates and laws that willbe in effect when the differences are expected to reverse. Deferred tax assetsare reduced by a valuation allowance to the extent management concludes it is morelikely than not that the assets will not be realized. Deferred tax assets andliabilities are measured using enacted tax rates expected to apply to taxableincome in the years in which those temporary differences are expected to berecovered or settled. The effect on deferred tax assets and liabilities of achange in tax rates is recognized in the statements of operations in the periodthat includes the enactment date.

 

*Net loss per common share*

 

Net loss per common share is computed pursuant to Statementof Financial Accounting Standards No. 128 *“Earnings Per Share”* (“SFASNo. 128”).  Basic net loss per share is computed bydividing net loss by the weighted average number of shares of common stockoutstanding during the period. Diluted net loss per share is computed bydividing net loss by the weighted average number of shares of common stock andpotentially outstanding shares of common stock during each period. There were no potentiallydilutive shares outstanding as of September 30, 2008 or 2007.

 

*Recentlyissued accounting pronouncements*

 

In June 2003, the Securities and Exchange Commission(“SEC”) adopted final rules under Section 404 of the Sarbanes-Oxley Act of 2002(“Section 404”), as amended by SEC Release No.33-8934 on June 26, 2008. Commencing with its annual report for the fiscal yearending December 31, 2010, the Company will be required to include a report ofmanagement on its internal control over financial reporting. The internalcontrol report must include a statement

 
| of management’s responsibility for  establishing and maintaining adequate internal control over its financial  reporting; |
|--------------------------------------------------------------------------------------------------------------------------------|

 
| of management’s assessment of the  effectiveness of its internal control over financial reporting as of year  end; and |
|-----------------------------------------------------------------------------------------------------------------------------|

 
| of the framework used by  management to evaluate the effectiveness of the Company’s internal control  over financial reporting. |
|--------------------------------------------------------------------------------------------------------------------------------------|

 

Furthermore, in the following fiscal year, it is required tofile the auditor’s attestation report separately on the Company’s internalcontrol over financial reporting on whether it believes that the Company hasmaintained, in all material respects, effective internal control over financialreporting.

 

 

F-8

----

 

In December 2007, the FASB issued FASBStatement No. 141 (Revised 2007)*“BusinessCombinations”* (“SFAS No. 141(R)”), which requires the Company to recordfair value estimates of contingent consideration and certain other potentialliabilities during the original purchase price allocation, expense acquisitioncosts as incurred and does not permit certain restructuring activitiespreviously allowed under Emerging Issues Task Force Issue No. 95-3 to berecorded as a component of purchase accounting.  SFAS No. 141(R)applies prospectively to business combinations for which the acquisition dateis on or after the beginning of the first annual reporting period beginning onor after December 15, 2008, except for thepresentation and disclosure requirements, which shall be appliedretrospectively for all periods presented. The Company will adopt this standardat the beginning of the Company’s fiscal year ending December 31, 2008 for allprospective business acquisitions. The Company has not determined the effectthat the adoption of SFAS No. 141(R) will have on the financial results of theCompany.

 

In December 2007, the FASB issued FASBStatement No. 160*“Noncontrolling Interests inConsolidated Financial Statements - an amendment of ARB No. 51”* (“SFAS No.160”), which causes noncontrolling interests in subsidiaries to be included inthe equity section of the balance sheet.  SFAS No. 160 appliesprospectively to business combinations for which the acquisition date is on orafter the beginning of the first annual reporting period beginning on or afterDecember 15, 2008, except for the presentationand disclosure requirements, which shall be applied retrospectively for allperiods presented.  The Company will adopt this standard at the beginning ofthe Company’s fiscal year ending December 31, 2008 for all prospective businessacquisitions.  The Company has not determined the effect that theadoption of SFAS No. 160 will have on the financial results of the Company.

 

In March 2008, the FASB issued FASBStatement No. 161*“Disclosures about DerivativeInstruments and Hedging Activities an amendment of FASB Statement No. 133”*(“SFAS No. 161”), which changes the disclosure requirements for derivativeinstruments and hedging activities.  Pursuant to SFAS No.161, Entities arerequired to provide enhanced disclosures about (a) how and why an entity usesderivative instruments, (b) how derivative instruments and related hedged itemsare accounted for under Statement 133 and its related interpretations, and (c) howderivative instruments and related hedged items affect an entity’s financialposition, financial performance, and cash flows.  SFAS No. 161 iseffective for financial statements issued for fiscal years and interim periodsbeginning after November 15, 2008 with early application encouraged.  SFAS No.161 encourages but does not require disclosures for earlier periods presentedfor comparative purposes at initial adoption.  In years after initial adoption,this Statement requires comparative disclosures only for periods subsequent toinitial adoption.  The Company does not expect the adoption of SFAS No. 161 tohave a material impact on the financial results of the Company.

 

Management does not believe that anyrecently issued, but not yet effective accounting pronouncements, if adopted,would have a material effect on the accompanying financial statements.

** **

**NOTE3 - GOING CONCERN**

 

The accompanying financial statements have been prepared on agoing concern basis which contemplates the realization of assets andsatisfaction of liabilities in the normal course of business. As reflected inthe accompanying financial statements, the Company had a negative workingcapital of $11,537 and a deficit accumulated during the development stage of$46,637 at September 30, 2008 and had a net loss and cash used in operations of$19,310 and $19,810 for the nine month period ended September 30, 2008,respectively.

 

While the Company is attempting to commence operations andgenerate revenues, the Company’s cash position may not be sufficient to supportthe Company’s daily operations. Management intends to raise additional funds byway of a public or private offering.  Management believes that the actionspresently being taken to further implement its business plan and generate revenuesprovide the opportunity for the Company to continue as a going concern. Whilethe Company believes in the viability of its strategy to increase revenues andin its ability to raise additional funds, there can be no assurances to thateffect. The ability of the Company to continue as a going concern is dependent uponthe Company’s ability to further implement its business plan and generaterevenues. The financial statements do not include any adjustments that might benecessary if the Company is unable to continue as a going concern. 

 

**NOTE4 – STOCKHOLDERS’ EQUITY**

 

*                Saleof common stock*

 

For the period from January4, 2008 through March 27, 2008, the Company sold11,000 shares of its common stock in a private placement at $1.00 per share to 11 individualsfor $11,000.

 

F-9

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 **Item 2 – Management’s Discussion and Analysis or Planof Operation of Financial Condition and Results of Operations**

 

Referencesto “Company”, “we” or “us” refer to Noble Medical Technologies, Inc., unlessthe context requires otherwise.

 

**MANAGEMENT’SDISCUSSION AND ANALYSIS OR PLAN OF OPERATION AND RESULTS OF OPERATIONS**

**MANAGEMENT’S DISCUSSIONAND ANALYSIS OR PLAN OF OPERATION**

 

Management’s Discussion andAnalysis contains statements that are forward-looking. These statements arebased on current expectations and assumptions that are subject to risks anduncertainties. Actual results could differ materially because of factorsdiscussed in “Factors That May Affect Future Results and Financial Condition.”

 

**OVERVIEW**

 

We are in a developmentalstage. Implementing our planned business operation is dependant on theeffectiveness of this registration statement and our ability to raise between$625,000 and $2,150,000 of additional capital after all offering expenses paidto a placement agent, attorneys, accountants and among other professional fees.Our plan is to utilize such capital we raise as follows:

 

                                                                      Ifa Net of                                   If a Net of

                                                                     $625,000 is Raised                     $2,150,000 is Raised

 

Establishing Manufacturing 

Facility/Offices                                                 $140,000                                      $500,000

 

Retail Shop                                                        $  25,000                                      $  50,000

 

Equipment                                                          $ 75,000                                       $150,000

 

OfficerSalaries                                                 $150,000                                      $350,000

 

Marketing Expense                                           $135,000                                     $700,000

 

Working Capital                                                $100,000                                     $400,000

 

The foregoing are estimatesonly and any funds may be re-allocated based upon management’s evaluation ofthen existing conditions.  We believe that we can commence manufacturing withinthree to four months of receiving financing.  We will have to acquire andinstall equipment, hire manufacturing and marketing personnel and establishworking relationships with suppliers.  We believe that when we sell boards tosurf shops that the sales will be on net thirty terms and the time for receiptof payment will require us to maintain significant working capital.  We projectthat our monthly operating budget will be approximately $70,000 to $80,000 permonth comprised of rent of $3,300; salaries of $45,000 to $50,000 per month andoverhead of $21,700 to $26,700.  Our ability to accomplish this will benegatively impacted by recent general economic developments.

 

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**INFLATION**

 

Inflation can be expected tohave an impact on our operating costs. A prolonged period of inflation couldcause a general economic downturn and negatively impact our results. However,the effect of inflation has been minimal over the past three years.

 

**SEASONALITY**

 

We believe that our business will be seasonal in thatsales will tend to decrease during winter months.

 

**Going Concern**

 

Ourfinancial statements have been prepared on a going concern basis, whichcontemplates the realization of assets and the satisfaction of liabilities inthe normal course of business. We have a history of losses that are likely tocontinue in the future. Our independent registered public accounting firm hasincluded a footnote in their report in our audited financial statements for theyear ended December 31, 2007 to the effect that our losses from operations andour negative cash flows from operations raise substantial doubt about ourability to continue as a going concern. Our financial statements do not includeany adjustments that might be necessary should we be unable to continue as agoing concern. If we were unable to continue as a going concern, ourshareholders would be likely to realize less for our assets than they arecurrently carried on our books because they would be sold separate from anyoperating business. We may be required to cease operations which could resultin our shareholders losing almost all of their investment.  

 

**Comparisonof Periods, Year to Year**

 

Wewere formed on March 17, 2007 and were not in existence during the samecorresponding period in the prior year.  We were inactive during and the sameperiod in prior year, accordingly, we cannot make a year-to-year comparison ofour results.

 

 

**Liquidityand Capital Resources**

 

Asof September 30, 2008, we had $1,669 cash on hand and $13,206 in accruedexpenses.  Our limited resources will affect the extent of our activities inthe future unless we are successful in realizing financing.

  

**Off Balance Sheet Arrangements**

 
|   | None |
|--------|------|

 

**Forward-Looking Statements**

 

Certain statements made inthis Report on Form 10-Q are “forward-looking statements” (within the meaningof the Private Securities Litigation Reform Act of 1995) regarding the plansand objectives of management for future operations. Such statements involveknown and unknown risks, uncertainties and other factors that may cause ouractual results, performance or achievements to be materially different from anyfuture results, performance or achievements expressed or implied by suchforward-looking statements. The forward-looking statements included herein arebased on current expectations that involve numerous risks and uncertainties.Our plans and objectives are based, in part, on assumptions involving judgmentswith respect to, among other things, future economic, competitive and marketconditions, technological developments, and future business decisions, all ofwhich are difficult or impossible to predict accurately and many of which arebeyond our control.

 

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Although we believe that ourassumptions underlying the forward-looking statements are reasonable, any ofthe assumptions could prove inaccurate and, therefore, there can be noassurance that the forward-looking statements included in this prospectus willprove to be accurate. In light of the significant uncertainties inherent in theforward-looking statements included herein particularly in view of the currentstate of our operations, the inclusion of such information should not beregarded as a statement by us or any other person that our objectives and planswill be achieved. Factors that could cause actual results to differ materiallyfrom those expressed or implied by such forward-looking statements include, butare not limited to, the factors set forth in our Prospectus included inRegistration Statement on Form S-1 No.: 333-151148 under the headings“Business,” “Risk Factors” and “Plan of Operations.”

 

**Item3. Quantitative and Qualitative Disclosures About Market Risk**

 

TheCompany is subject to certain market risks, including changes in interest ratesand currency exchange rates. The Company does not undertake any specificactions to limit those exposures.

 

**Item4. Controls and Procedures**

 

Anevaluation was carried out under the supervision and with the participation ofour management, including our Chief Financial Officer and President, of theeffectiveness of our disclosure controls and procedures as of the end of theperiod covered by this report on Form 10-Q. Disclosure controls and proceduresare procedures that are designed with the objective of ensuring thatinformation required to be disclosed in our reports filed under the SecuritiesExchange Act of 1934, such as this Form 10-Q, is recorded, processed,summarized and reported, within the time period specified in the Securities andExchange Commissions rules and forms, and that such information is accumulatedand is communicated to our management, including our principal executive andprincipal financial officers, or persons performing similar functions, asappropriate, to allow timely decisions regarding required disclosure. Based onthat evaluation, our management concluded that, as of March 31, 2008, ourdisclosure controls and procedures are effective to satisfy the objectives forwhich they are intended.

4

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***Management'sReport on Internal Controls over Financial Reporting***

Internalcontrol over financial reporting is a process to provide reasonable assuranceregarding the reliability of consolidated financial reporting and thepreparation of financial statements for external purposes in accordance with accountingprinciples generally accepted in the United States of America. There has beenno change in the Company's internal control over financial reporting during theinterim period ended September 30, 2008 that has materially affected, or isreasonably likely to materially affect, the Company's internal control overfinancial reporting.

 

TheCompany's management, comprised of one officer, does not expect that theCompany's disclosure controls and procedures or the Company's internal controlswill prevent all errors and all fraud. A control system, no matter how wellconceived and operated, can provide only reasonable, not absolute, assurancethat the objectives of the control system are met. Further, the design of acontrol system must reflect the fact that there are resource constraints, andthe benefits of controls must be considered relative to their costs. Because ofthe inherent limitations in all control systems, no evaluation of the controlscan provide absolute assurance that all control issues and instances of fraud,if any, within the Company have been detected.

 

Managementconducted an evaluation of the effectiveness of our internal control overfinancial reporting based on the framework in Internal Control - IntegratedFramework issued by the Committee of Sponsoring Organizations of the TreadwayCommission. Based on this evaluation, management concluded that the company'sinternal control over financial reporting was effective as of September 30,2008.

 

Thisquarterly report does not include an attestation report of the Company'sregistered public accounting firm regarding internal control over financialreporting. Management's report was not subject to attestation by the Company'sregistered public accounting firm pursuant to temporary rules of the Securitiesand Exchange Commission that permit the Company to provide only management'sreport in this quarterly report.

 

 Therewere no changes in our internal control over financial reporting identified inconnection with the evaluation performed that occurred during the fiscalquarter covered by this report that has materially affected or is reasonablylikely to materially affect, our internal control over financial reporting.

 

**PART II – OTHERINFORMATION**

 

**Item 1 – Legal Proceedings**

 

The Company is not currently party to any legalproceedings.

 

**Item 2 – Unregistered Sales of Equity Securitiesand Use of Proceeds**

 

None.

5

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**Item 3 – Defaults Upon Senior Securities**

 

None.

 

**Item 4 – Submission of Matters to a Vote ofSecurity Holders**

 

None.

 

**Item 5 – Other Information**

 

None.

 

 **Item6 – Exhibits and Reports of Form 8-K**

 

**(a)    Exhibits**

 
| **Exhibit  Number** | **Exhibit Description**                                                                                                                                                 |
|---------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.1                 | Certificate  of Incorporation – Incorporated by reference to like numbered exhibit to the  Company’s Registration Statement on Form S-1 File No.: 333-151148. |
| 3.2                 | Bylaws - Incorporated by reference to like  numbered exhibit to the Company’s Registration Statement on Form S-1 File No.:  333-151148.                            |
| 4.1                 | Specimen Stock Certificate – Incorporated by  reference to like numbered exhibit to the Company’s Registration Statement on  Form S-1 File No.: 333-151148.   |
| 21                  | Description of Subsidiaries. None                                                                                                                                       |
| 31.1                | Rule 13a-14(a)/15d-14(a) Certification by the  Principal Executive Officer.*                                                                                            |
| 31.2                | Rule  13a-14(a)/15d-14(a) Certification by the Principal Financial Officer.*                                                                                            |
| 32.2                | Section 1350  Certification by the Principal Executive Officer, Principal Financial Officer  and Principal Accounting Officer.*                                         |

 

* Filed herewith

 

**(b)    Reports of Form 8-K**

 

**None.**

** **

 6

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**SIGNATURE**

 

In accordance with the requirements of theSecurities Exchange Act of 1934, as amended, the registrant caused this Reporton Form 10-Q to be signed on its behalf by the undersigned, thereunto dulyauthorized.

 
|   | **Hamptons Extreme, Inc.** |
|--------|----------------------------|

 

 
| Date:  December 22, 2008 | By: | /s/  John Delaney |
|--------------------------|-----|-------------------|

 
|   | John  Delaney, President and CEO |
|--------|----------------------------------|

 

 

 

 

 

 

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